Tax Law Highlights - 2012
Mileage Rate (per mile) deduction - 2012
Beginning on January 1, 2012, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:
55.5 cents per mile for business miles driven
23 cents per mile driven for medical or moving purposes
14 cents per mile driven in service of charitable organizations
The rate for business miles driven is unchanged from the mid-year adjustment that became effective on July 1, 2011. The medical and moving rate has been reduced by 0.5 cents per mile.
Need Professional Help?
If you need help with "Tax Law Highlights - 2012" or have other tax questions, we can help you find a local licensed tax preparer for a free, no-obligation consultation.